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Exhibit B
STATE OF HAWAII
HOUSING AND COMMUNITY DEVELOPMENT CORPORATION OF HAWAII
Combined Statement of Revenues, Expenditures, and Changes in
Fund Balances -All Governmental Fund Types and Expendable Trust Funds
Year ended June 30, 2000
Total
(memorandum
only)
$ 21,263,581
64,799,049
229,361
11,532
86,303,523
25,117
86,328,640
Revenues:
Intergovernmental -HUD annual contributions
State allotted appropriations
interest
Other
$
Fiduciary
Governmental Fond Types Fund Type
Special Capital Expendable
General Revenue Projects Trust

$ 21,263,581 $ $
7,263,213 8,785,836
229,361
11,532
21,504,474
7,263,213
25,117
7,288,330
8,785,836
48,750,000
Total revenues
Other financing source -operating transfers in
Total revenues and other financing source
21,504,474
1,709,267
4,039,341
541,206
35,852
151,550
494,179
120,278
454
2,905
7,095,032
311,520
7,406,552
17,912,723
1,470,855
1,450,184
97,234

1,166
474,839
2,059
11,519
Expenditures"
CuITent:
Housing assistance payments
Homeless services
Personnel services (notes P and Q)
Administration
Professional services
Security
Repairs and maintenance
Utilities
Other
Capital outlay (note H)
Total expenditures
Other financing use -operating transfers out to enterprise funds
Total expenditures and other financing use
Excess (deficiency) of revenues and other financing
source over expenditures and other financing use
Fund balance at July 1,1999
Fund balance at June 30, 2000
24,198
257
1,173,903
1,198,358
1,327
39,854,376
39,855,703

39,855,703
(118,222)
342,720
$ 224,498
See accompanying notes to combined financial statements.
60
19,621,990
4,039,341
2,012,061
1,510,234
248,784
495,345
5%,701
2,513
14,424
41,028,279
69,569,672
311,520
69,881,192
83,895
5,571,967
5,655,862
7,587,478
4,167,296
11,754,774
8,894,297
2,635,283
11,529,580
16,447 ,448
12,717,266

29,164,714
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Exhibit D
STATE OF HAWAII
HOUSING AND COMMUNITY DEVELOPMENT CORPORATION OF HAWAII
Combined Statement of Revenue and Expenses -Proprietary Fund Types
Year ended June 30, 2000
Total
(memorandum
only)
Internal
Service
Enterprise
$
49,973,237
3,582,522
185,000
32,218,410

(20,874,366)
1,181,696
6,136,243
72,402,742
$
$
49,973,237
3,582,522
185,000
32,343,922
(20,874,366)
1,181,696
6,137,368
72,529,379
Operating revenues:
Interest
Sales of land
Sales of units
Rental (notes F, N, and R)
Net decrease in the fair value of investments
Conveyance tax
Other
125,512
1,125
40,978,404
6,336,542
8,749,052
16,355,055
14,018,745
2,331,727

2,371,130
351,724
745,239
469,286
642,916
1,269,966
325,920
323,350
177,799
40,748
548,731
289,022
4,507,584
7,137,699
1,151,889
2,402,513
111,525,041
(39,122,299)
40,978,404
6,336,542
8,749,052
16,355,055
14,142,248
2,331, 727
2,371,130
351,724
745,239
469,286
652,909
1,269,966

325,920
323,350
177,799
40, 748
548, 731
289,022
4,507,584
7,137,699
1,151,889
2,403,387
111,659,411
(39,130,032)
Total operating revenues
Operating expenses:
Interest
Cost of land sold
Project
Personnel services (notes P and Q)
Depreciation
Housing assistance payments
Administration
Provision for losses
Loan servicing fees
Letter of credit fees
Professional services
Arbitrage rebate (note J)
Trustee fees
Amortization of deferred bond issuance costs
Amortization of deferred refunding cost
Mortgage insurance

Security
Insurance
Repairs and maintenance
Utilities
Payments in lieu of taxes
Other
123,503
9,993
874
134,370
(7,733)
5,332,820
9,909,680
(416,394)
14,826,106
(24,296,193)
311,520
(23,984,673)
41,339
(24,254,854)
311,520
(23,943,334)
(68,459)
$ (24,053,132)
(68,459)
$ (24,011,793)
Total operating expenses
Operating loss
Nonoperating revenues and expenses:
Interest income

HUD operating subsidy and others
Interest expense
Total nonoperating revenues and expenses
Income (loss) before operating transfer and
extraordinary item
Operating transfer in from general fund
Income (loss) before extraordinary item
Extraordinary item -loss from early redemption of revenue
bonds payable
Net income (loss)
$
~
See accompanying notes to combined financial statements.
62
5,381,892
9,909,680
(416,394)
14,875,178
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Exhibit F
STATE OF HAWAII
HOUSING AND COMMUNITY DEVELOPMENT CORPORATION OF HAWAII
Combined Statement ofCash Flows -Proprietary Fund Types
Year ended June 30, 2000
Total
(memorandum
only)

Internal
Service
:!~nterprise
$ (39,122,299)
$
(7,733)
$ (39,130,032)
14,571,669
(58,173)
(40,772,115)
(869,023)
40,978,404
355,278
20,874,366
(1,116,856)
123,503
878
14,695,172
(58,173)
(40,772,115)
(869,023)
40,978,404
355,278
20,874,366
(1,116,856)
878
5,116,745
5,986,492
1,768,957
(320,564)

(486,149)
(6,508,509)
288,960
9,985
5,862,234
410,823
(258,058)
909,314
311
537,532
1,866,178
85,849
495,299
1,269,966
(47,457)
(677,508)
(1,667,420)
9,484,231
5,116,745
5,986,492
1,768,957
(320,564)
(486,149)
(6,313,645)
288,960
9,985
5,862,234
410,823
(258,058)
876,249

311
537,532
1,866,178
85,849
495,299
1,269,966
(47,457)
(677,508)
(1,667,420)
9,762,678
194,864
(33,065)
278,447
~
Cash flows from operating activities:
Operating loss
Adjustments to reconcile operating loss to net cash provided
by operating activities:
Depreciation and amortization
Gain on sale of land
Interest on investments
Interest on financing lease
Interest on revenue bonds
Provision for losses
Net decrease in the fair value of investments
Lender commitment fees amortized
Loss on disposal of property and equipment
Changes in assets and liabilities:
Mortgage loans receivable
Notes and loans receivable

Accrued interest receivable on mortgages, notes, and loans
Tenant receivables
Other receivables
Due from other funds
Due from HUD
Due from State of Hawaii
Inventories
Prepaid expenses and other assets
Deposits held in trust
Accounts payable
Accrued interest payable
Accrued other expenses
Due to other funds
Due to HUD
Security deposits
Arbitrage rebate payable
Deferred income
Deferred gain on sale of units and land
Estimated future costs of land sold
Net cash provided by operating activities
Cash flows from noncapital financing activities:
Proceeds from sale of revenue bonds
Principal paid on revenue bond maturities and redemptions
Interest paid on revenue bonds
HUD operating subsidy received
Operating transfers in from general fund
Bond issuance costs paid
Lender commitment fees received
Advances from other funds
Contributions returned to State of Hawaii

Net cash provided by non capital financing activities
Subtotal, carried forward
$
108,765,000
(18,275,000)
(32,806,915)
8,967,690
311,520
(866,417)
2,157,415
4,303,226
(4,632)
72,551,887
82,036,118
$
108,765,000
(18,275,000)
(32,806,915)
8,967,690
311,520
(866,417)
2,157,415
4,303,226
(4,632)
-72,551,887
64
278,447
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Exhibit F

STATE OF HAWAII
HOUSING AND COMMUNITY DEVELOPMENT CORPORATION OF HAWAII
Combined Statement of Cash Flows -Proprietary Fund Types
Year ended June 30,2000
Enterprise
82,036,118
Internal
Service
278,447
$
3,750,000
(4,399,332)
(8,525,688)
71,000
(36,383)
(16,992,955)
(2,305,572)
16,343,144
(415,506)
(12,511,292)
3,750,000
(4,399,332)
(8,525,688)
71,000
(36,383)
(16,943,128)
(2,305,572)
16,343,144
(415,506)
(49.827)

(421,354,661)
413,378,090
43,274,419
1,240,183
1,428, 739
37,966,770
107,541,423
84,502,156
$ 192,043,579
700,000
40,768
$ 161,990,606
30,052,973
$ 192,043,579
$
Subtotal, brought forward
Cash flows from capital and related financing activities:
Proceeds from sale of revenue bonds
Principal paid on revenue bond maturities and redemptions
Interest paid on revenue bonds
Proceeds from sale of land
Principal payments on notes payable
Acquisition of property and equipment
Principal payments on mortgage loans
Receipts of capital grants
Payments of interest
Net cash used in capital and related financing activities
Cash flows from investing activities:
Purchases of investments
Proceeds from investments

Interest received on investments
Payments received on direct financing lease
Net decrease in restricted deposits and funded reserves
Net cash provided by investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at July I, 1999
Cash and cash equivalents at June 30, 2000
Reconciliation of cash to cash and cash equivalents:
Cash
Certificates of deposit and money market accounts
Cash and cash equivalents at June 30, 2000
Supplemental disclosure of noncash information:
Transfers of property to State of Hawaii
Recognition of gain on sale of housing project as
contributed capital
$
$
(727,166)
$
$
(727,166)
$ 1,170,417 $
$ 1,170,417
See accompanying notes to combined financial statements.
65
Total
(memorandum
only)
G 82,3 ]4,565
740,768

969,388
61,259
1,030,647
(421,354,661)
414,078,090
43,315,187
1,240,183
1,428,739
38,707,538
108,510,811
84,563,415
; 193,074,226
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